Funds Pledged for Climate Loss and Damage
“A big win for vulnerable countries,” said Dr. Joyce Banda, former president of Malawi and a champion of climate justice in Africa, describing the fund's operationalization.
DUBAI, United Arab Emirates - On the first day of the 28th Conference of Parties to the UN (COP28) underway in Dubai, several countries made pledges to the loss and damage fund established last year in Egypt to help vulnerable nations cope with climate change impacts, writes Chimwemwe Padatha.
The United Arab Emirates (UAE) and Germany have each pledged $100 million.
Other pledges include $17 million from the U.S., $10 million from Japan, $18 million from Italy and $76 million from the U.K.
“A big win for vulnerable countries,” said Dr. Joyce Banda, former president of Malawi and a champion of climate justice in Africa, describing the fund's operationalization.
“It is a step in the right direction for countries like Malawi that have suffered extreme losses due to cyclones.”
This year, cyclones killed more than 500 and displaced half a million in Malawi.
Julius Ng’oma, National Coordinator of the Civil Society Network on Climate Change, said he is “optimistic” about the pledges.
“It is an encouraging one for African countries and particularly the least developed countries as they are the ones that suffer the most from climate-induced loss and damage,” he said.
Ng’oma expressed hope that the pledges will quickly become commitments and that the money will flow soon to address climate impacts.
“These impacts cannot wait,” he said.